California Real Estate Fraud Report

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Century 21 Agents Sued after Flipping Elderly Client’s House

Two Century 21 agents are on the wrong end of a lawsuit after selling the house of a man who had inherited the property from his late father.

The plaintiff is Rosario Lazcano. He listed his father’s home at 1551 East 76th Place with Edrisi Aussenac of Century 21  in September 2016. After a month Aussenac told Lazcano that he only had one offer and that was for 40% less than the $315,00 listed price. He convinced Lazcano to take the offer and sell the home to Gyn Group LLC, whose president is Jorge D. Acuna, also a Century 21 agent. According to the lawsuit, Aussenac didn’t disclose to Lazcano that he and Acuna were colleagues.

Two months later, Aussenac re-listed the property at $399,000 and sold it for $375,000.

Rosario Lazcano‘s lawsuit claims fraud, breach of fiduciary duty, breach of contract, unjust enrichment, and intentional misrepresentation. Pacific Escrow and its owner, who is alleged to be related to the owners of the Century 21 Allstars franchise.

Read the original article in The Real Deal.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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